Effect Mechanical Turk is a marketplace for tasks that require human intelligence. It allows anyone in the world to perform tasks for fair payment. This first phase gives businesses and aspiring AI developers much needed access to a large workforce of human intelligence. The second platform, Effect Smart Market, is a decentralized registry of AI services. On this platform any algorithm can be accessed, and paid for, as a service in a unified manner. The last platform, Effect Power, provides a decentralized, distributed computational platform that can run popular deep learning frameworks.
A blockchain is a decentralized data store that can contain arbitrary logic and processes without the need for a trusted central party. Blockchain was first proposed in the Bitcoin whitepaper by Satoshi Nakamoto in 2009. Since then, the technology has had a disruptive influence on a number of markets, notable examples include banking, insurance, and real-estate. A key reason for the disruptive nature of blockchain is that decentralized applications have unique properties like transparency and no-ownership. We propose a protocol that utilizes these properties to decentralize the global market of Artificial Intelligence, effectively lowering the barrier to entry, stimulating market growth and greatly reducing cost of use.
To solve many of the problems with the current AI market, Effect.AI proposes a private, decentralized ecosystem for AI development and AI related services called The Effect Network. The Effect Network is designed to provide a feature complete alternative to services like Amazon Mechanical Turk, Fiverr, OneSpace and Guru.com. It will operate fully on smart contracts deployed on the NEO blockchain. The Effect Network, like other decentralized applications, directly connects supply and demand without the need for an intermediary party. To be more specific, The Effect Work will establish the following:
EFX and G-EFX
The Galaxy Pool ensures stable exchange rates for users of the network at all times by, among other measures, discouraging day traders. Key in achieving this is making a distinction between Galaxy-EFX (G-EFX) tokens and EFX tokens. G-EFX tokens can be bought. Any G-EFX bought from the Pool cannot be sold back to the Pool. A G-EFX token is cleared (converted to a regular EFX token) by spending it through an Effect.AI Service Contract. These are the service contracts from the tasks and service registry. This protects the Galaxy Pool from external manipulation and keeps exchange rates stable for all agents in the network. Furthermore, to assure Requesters will not have an overflow, G-EFX will gradually expire and return to the Galaxy Pool over time. The Pool compensates the Requester for this by offering a favorable exchange rate for the tokens used to purchase G-EFX.